wrapper

Pending Home Sales unexpectedly fell in August

Thursday, Sep 29 2016

Pending home sales in the U.S. unexpectedly fell in August to its lowest level since the beginning of the year, dampening optimism over the health of the housing sector, industry data showed on Thursday. In a report, the National Association of Realtors (NAR) said its pending home sales index fell by a seasonally adjusted 2.4% last month, missing expectations for an increase of 0.3%. The index reading at 108.5 is the second lowest this year after January’s 105.4.

NAR chief economist Larry Yun said suffering supply levels have taken the wind out of the momentum the housing market experienced earlier this year. "Contract activity slackened throughout the country in August except for in the Northeast, where higher inventory totals are giving home shoppers greater options and better success signing a contract," he said. "In most other areas, an increased number of prospective buyers appear to be either wavering at the steeper home prices pushed up by inventory shortages or disheartened by the competition for the miniscule number of affordable listings," Yun explained.

 

Euro is currently being traded around 1.1220 handle, Aussie is at 0.7630 level, while Sterling is few points above 1.2970 area.

More in this category: « Unemployment Claims rose to 254,000 China's Manufacturing PMI little changed in September »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.